COVERAGE / SO / Utilities

SOUTHERN CO

Electric Services

COVERAGE STATUSACTIVE

DATA THROUGH2025-12-31

RESEARCH REPORTS2

SELECTED FILINGS1

Fundamental matrix

Latest / 2025-12-31 · Prior / 2024-12-31 · USD · Annual periods

Revenue

$29.55bn

Prior / $26.72bn

Change / +10.59%

SOURCE / 2026-02-19

Operating income

$7.29bn

Prior / $7.07bn

Change / +3.07%

SOURCE / 2026-02-19

Net income

$4.34bn

Prior / $4.4bn

Change / -1.36%

SOURCE / 2026-02-19

Diluted EPS

$3.92

Prior / $3.99

Change / -1.75%

SOURCE / 2026-02-19

Free cash flow

$-2.94bn

Prior / $0.83bn

Change / -452.34%

SOURCE / 2026-02-19

Gross margin

Not available

Prior / Not available

Change / Unavailable

SOURCE / Not available

Operating margin

24.65%

Prior / 26.45%

Change / -1.80 pp

SOURCE / 2026-02-19

Return on avg. equity

12.54%

Prior / 13.61%

Change / -1.07 pp

SOURCE / 2026-02-19

Debt / equity

Not available

Prior / Not available

Change / Unavailable

SOURCE / Not available

ROE uses net income divided by average opening/closing equity. FCF = operating cash flow − selected capital expenditure. Debt/equity is unavailable because a verified interest-bearing-debt series is absent; total liabilities are not substituted for debt.

Inspect source tags, dates and accession numbers

{
  "revenue": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 29553000000,
    "accn": "0000092122-26-000006",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-19",
    "frame": "CY2025",
    "tag": "us-gaap:Revenues",
    "unit": "USD"
  },
  "netIncome": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 4341000000,
    "accn": "0000092122-26-000006",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-19",
    "frame": "CY2025",
    "tag": "us-gaap:NetIncomeLoss",
    "unit": "USD"
  },
  "operatingIncome": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 7285000000,
    "accn": "0000092122-26-000006",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-19",
    "frame": "CY2025",
    "tag": "us-gaap:OperatingIncomeLoss",
    "unit": "USD"
  },
  "eps": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 3.92,
    "accn": "0000092122-26-000006",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-19",
    "frame": "CY2025",
    "tag": "us-gaap:EarningsPerShareDiluted",
    "unit": "USD/shares"
  },
  "operatingCashFlow": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 9802000000,
    "accn": "0000092122-26-000006",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-19",
    "frame": "CY2025",
    "tag": "us-gaap:NetCashProvidedByUsedInOperatingActivities",
    "unit": "USD"
  },
  "capex": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 12737000000,
    "accn": "0000092122-26-000006",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-19",
    "frame": "CY2025",
    "tag": "us-gaap:PaymentsToAcquirePropertyPlantAndEquipment",
    "unit": "USD"
  },
  "totalAssets": {
    "end": "2025-12-31",
    "val": 155720000000,
    "accn": "0000092122-26-000006",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-19",
    "tag": "us-gaap:Assets",
    "unit": "USD"
  },
  "totalLiabilities": {
    "end": "2025-12-31",
    "val": 116853000000,
    "accn": "0000092122-26-000006",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-19",
    "tag": "us-gaap:Liabilities",
    "unit": "USD"
  },
  "shareholdersEquity": {
    "end": "2025-12-31",
    "val": 36016000000,
    "accn": "0000092122-26-000006",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-19",
    "frame": "CY2025Q4I",
    "tag": "us-gaap:StockholdersEquity",
    "unit": "USD"
  },
  "currentAssets": {
    "end": "2025-12-31",
    "val": 10917000000,
    "accn": "0000092122-26-000006",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-19",
    "tag": "us-gaap:AssetsCurrent",
    "unit": "USD"
  },
  "currentLiabilities": {
    "end": "2025-12-31",
    "val": 16888000000,
    "accn": "0000092122-26-000006",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-19",
    "tag": "us-gaap:LiabilitiesCurrent",
    "unit": "USD"
  }
}

Financial trend system

Annual financial trends are summarized in the accessible table below.

Annual figures / accessible table

Period end	Revenue	Net income	Free cash flow	EPS
2025-12-31	$29.55bn	$4.34bn	$-2.94bn	$3.92
2024-12-31	$26.72bn	$4.4bn	$0.83bn	$3.99
2023-12-31	$25.25bn	$3.98bn	$-1.54bn	$3.62
2022-12-31	$29.28bn	$3.43bn	$-1.62bn	$3.26

Valuation context

Historical snapshot / 2026-09-17. Annual accounting period / 2025-12-31. Not current, TTM or forward valuation.

Dated ratios / eligible same-method sector sample
Measure	Snapshot value	Historical median	Sector median	Peer count
P/E	22.13x	Unavailable	20.46x	6
P/S	Unavailable	Unavailable	3.42x	3
P/B	Unavailable	Unavailable	2.13x	3
EV / EBITDA	Unavailable	Unavailable	Unavailable	0
FCF yield	Unavailable	Unavailable	1.38%	1

Annual denominators, not TTM or forward. Capitalization-based measures use estimated market capitalization from the dated quote snapshot. ADR/share-basis uncertainty is excluded. No comparable historical-multiple series or EV/EBITDA is available. Sector samples are equal-weight medians of this publication’s eligible covered companies; fiscal periods differ. No fair value or price target is implied.

Source: Yahoo Finance completed daily-bar snapshot; not live DAILY-BAR SOURCE ↗

Retained price snapshot and capitalization estimate

{
  "currentPrice": 86.76,
  "tradingDate": "2026-09-17",
  "marketCap": null,
  "source": "Yahoo Finance completed daily-bar snapshot; not live"
}

Company & operating context

SOUTHERN CO is an SEC-reporting issuer listed on NYSE under SO. Its SEC industry description is Electric Services. This profile organizes annual financial disclosures for research; sector labels are editorial groupings, not GICS classifications.

Regulated networks and generation businesses have different exposure to tariffs, commodity costs and investment cycles.

Segment-level revenue is not included in this standardized dataset. Consult the business and segment notes in the linked annual filing for the issuer’s actual reporting segments.

Filing timeline

10-KFILED / 2026-02-19PERIOD / 2025-12-31

Annual-disclosure reading guide for SO: Capital expenditure, allowed returns, financing needs and operating cash flow. Filing metadata only; this note is not a substantive review of the full document.

ORIGINAL SEC DISCLOSURE ↗

Research archive

HR-0136SOEarnings Review

SO: the annual earnings and cash-flow comparison ↗

SOUTHERN CO

Research abstract

A two-period review of SO revenue, profitability and cash conversion; reported revenue growth was 10.59%.

DATA THROUGH2025-12-312 MIN READPUBLISHED 2026-09-26

HR-0137SOCompany Research

SO: reading the FY2025 financial structure ↗

SOUTHERN CO

Research abstract

Annual revenue of USD 29.553 billion and net income of USD 4.341 billion for the period ended 2025-12-31.

DATA THROUGH2025-12-312 MIN READPUBLISHED 2026-09-26

Sector context & risk factors

Rate decisions, financing costs, weather, asset reliability and large construction projects.

Capital expenditure, allowed returns, financing needs and operating cash flow.

UTILITIES SYSTEM ↗

Sources & dates

SEC annual filing · 2025-12-31 ↗Source date 2026-02-19
SEC annual filing · 2024-12-31 ↗Source date 2026-02-19
SEC annual filing · 2023-12-31 ↗Source date 2026-02-19
SEC annual filing · 2022-12-31 ↗Source date 2025-02-20
SEC issuer record ↗Source date 2026-09-18